Serviced office operator collapses into administration
A UK-wide serviced office operator has called in administrators after experiencing a turbulent few years due to the Covid-19 pandemic.
BE Offices has a Birmingham flexible workspace at Somerset House, 37 Temple Street, with options to take from 1 to up to 200 desks as well as featuring a garden roof terrace, a gym and a GolfZon indoor golf simulator.
It has appointed administrators for the parent group and 11 subsidiaries two years after entering into company voluntary arrangements for BE Offices Ltd, and 15 subsidiaries.
The firm now operates almost 300,000 sq ft of flexible workspace across 10 London offices and Belfast, Birmingham and Southampton flex spaces. It employed 125 staff at the time of its latest accounts in 2021.
BE Offices saw a loss after tax in 2021 of £20.5m, with group turnover falling to £24m compared to £36.1m the previous year, as “the continuing effects of COVID lockdowns and working from home directives hit renewals and new business”.
Centres in Marylebone, Manchester, Canary Wharf, Royal Exchange and Bristol were closed in 2021 and 2022 as a result of the downturn.
The group had 500 clients over multiple industries including services employment agencies, financial services and IT.
Both BE Offices and Howard Kennedy, who represented the company have been contacted for comment, with no immediate response.
